Marketing Management Tutorial
Marketing Management Resources
Selected Reading
- Marketing Mngmt - Advanced Topics
- Physical Distribution
- Distribution Channels
- Promotion Decisions
- Marketing Mngmt - Pricing Decision
- Marketing Mngmt - Brand Equity
- Branding of a Product
- Product Life Cycle
- Demand Forecasting
- Marketing Mngmt - Segmentation
- Marketing Management - OBB
- Consumer Behavior
- Research Process
- Marketing Management - Research
- Marketing Management - Planning
- Porter’s Five Forces
- Marketing Mngmt - Environment
- Marketing Management - Functions
- Marketing Management - Process
- Marketing Management - Concepts
- Marketing Management - Overview
- Marketing Management - Home
Marketing Management Resources
Selected Reading
- Who is Who
- Computer Glossary
- HR Interview Questions
- Effective Resume Writing
- Questions and Answers
- UPSC IAS Exams Notes
Branding of a Product
Marketing Mngmt - Branding of a Product
Branding can be the name, logo, concept, etc., which differentiate the product or service from the other competitors in the market.
Reasons for Branding
Branding is aimed at promoting your own product. Let us now see why branding a product is essential.
It makes the promotion process easy.
It increases the rate of success in advertising.
It creates an image of the product in customers’ minds, which he/she can relate to.
Brand signifies the organization.
Brand creates product loyalty and stabipzes sales.
It differentiates the product from other competitors in market.
It makes the introduction of a new product easier.
Branding creates a difference from other products, which helps to tackle price competition.
Branding of a product has many upsides; by creating a brand, the product can be stabipzed in the market for a longer duration.
Branding Strategies
Branding strategy can be spanided into the following two types −
Producer strategy
Middleman strategy
Producer Strategy
The following need to be considered for producer strategies −
Marketing under producer’s brand
Developing a market preference for branded parts or materials
Marketing the product under a renowned middleman brand
This strategy is used by the companies or manufacturers to build a brand.
Middleman Strategy
In this strategy, the manufacturer uses a known distributor brand to advertise the product.
It is the middlemen or distributor brand popcy.
It is used by companies without adequate finance for advertisement and promotion.
This can be an advantage to the producer in market.
Positioning a Brand
Positioning a brand means occupying a unique place in the minds of the consumers. The following are the various ways for positioning a brand −
Taking benefit from a trending situation
Connecting various uses
Positioning according to consumer pfestyle
Advertising the benefits
Accruing a competitive position
Benefits offered by the product
Positioning a brand creates an image in the customers’ minds, which one can relate to. It increases the sales of the product.
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